According to IPC (Northbrook, IL), the North American IMS/PCB Industry book-to-bill ratio for January remained positive at 1.08.

The ratio is calculated by averaging the index numbers for orders booked over the past three months and dividing by the average index numbers for sales billed during the same period. A ratio of more than 1.00 suggests that current demand is ahead of supply, which indicates probable near-term growth.

Shipments increased 28.4% from January 2003 and orders booked increased 19.8% year-on-year. The shipment index was 118.1, down 6.5% from December 2003 and the IMS/PCB booking index was 125.2, down 8.7% sequentially.

The index shows how current PCB shipments and bookings relate to an index point. In this case, 1992 was chosen as the index point because it was a stable growth year for U.S. PCB manufacturers. A shipment index number of 117.0, for example, indicates that shipments are 17% higher than average shipments for the same time period in 1992.

Percentages based on the index numbers reflect changes in the size of the industry. Data reported by current participants in IPC's monthly survey, however, tell a different story. These participating companies report that their shipments increased 25.1 percent in January 2004 over January 2003, and that their orders booked increased 18.2 percent in January, year over year.

Together, these figures show a North American PCB industry that has contracted, but the companies that remain in the industry are doing better than last year.

The information in IPC's monthly industry statistics is based on data provided by PCB manufacturers that participate in IPC's monthly IMS Statistical Program. The companies reportedly represent 60% of the U.S. IMS industry.

www.ipc.org

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